Home / Knowledge / News / Textiles / Textile segment sales up 8% at Raymond in Q3FY'13
Textile segment sales up 8% at Raymond in Q3FY'13
23
Jan '13
Raymond Limited announced its unaudited financial results for the quarter ended December 31, 2012.

The standalone Textile segment net sales for the quarter ended 31 December 2012 witnessed an increase of 8% at Rs 554 crore. However, margins have been impacted due to higher input costs and underutilization of capacities.

The Branded Apparel business net sales stood at Rs 184 crore, down by 7% on YaY basis and reported EBITDA of Rs 4 crore as against Rs 29 crore in the corresponding previous quarter. Margins have been impacted due to higher discounted sales and change in channel mix.

Raymond's exclusive retail network across all formats and geographies stood at 914 stores as on 31 December 2012, covering over 1.74 million square feet of retail space. The company added 21 stores during the quarter and closed 9 stores.

The Cotton shirting fabric business has witnessed improved performance during the quarter. Sales stood higher by 24% at Rs 80 crore while EBlTDA was higher by 32% at Rs 12 crore. EBITDA margins improved by 100 bps backed by better capacity utilization.

The Indian operations of Denim business has witnessed 14% sales growth during the quarter to Rs 196 crore, while EBITDA stood at Rs 24 crore, up by 33% compared to the previous year. Margins have witnessed improvement mainly due to export growth and better realizations.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "The third quarter of the current financial year has been far more challenging. On the one hand margins of our worsted suiting's business have been under pressure due to higher input costs and inflation, our apparel business suffered from high inventory overhang impacting margins. We have put in place various processes and cost improvement initiatives to tackle the same. We are confident that our initiatives will bear fruitful results in the time to come. Despite a tough quarter gone by, we remain confident about the long term consumption demand; and the strategic direction of our business and continue to invest in brand building, retail and in improving operational efficiencies”.

Click here to view entire Q3 results.

Raymond


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search